Vicasa Steel’s VCA Shares Under VNSteel’s Warning Watchlist

The Ho Chi Minh City Stock Exchange (HoSE) has recently decided to place the VCA shares of Vicasa Steel – VNSteel under cautionary notice, effective from October 23, 2025.

This decision stems from the listed company’s suspension of its primary production activities for over three months, which falls under the criteria for securities to be placed under cautionary notice as per the Listing and Trading Rules issued alongside Decision No. 22/QĐ-HĐTV dated April 18, 2025, by the Board of Members of the Vietnam Stock Exchange.

In a separate development, Vietnam National Steel Corporation (VNSteel, Stock Code: TVN) has reported the trading results of shares by related individuals of insiders.

Accordingly, VNSteel successfully sold its entire holding of nearly 9.9 million VCA shares, equivalent to a 65% stake in Vicasa Steel – VNSteel.

The transaction was executed through a public auction on the Hanoi Stock Exchange (HNX) from October 7, 2025, to October 13, 2025.

Following this transaction, VNSteel is no longer a shareholder or the parent company of Vicasa Steel – VNSteel.

Currently, Mr. Nguyen Phu Duong, Deputy General Director of VNSteel, serves as the Chairman of the Board of Directors of Vicasa Steel – VNSteel. Additionally, several VNSteel executives hold key positions at VCA.

On October 15, 2025, the VCA Board of Directors issued a resolution convening an extraordinary general meeting of shareholders in 2025. The final registration date for attending the meeting is November 5, 2025. The meeting is scheduled for December 2025 at the Vicasa Steel – VNSteel office.

The agenda for the meeting includes: approving the relocation plan, including location and timing; handling inventory, raw materials, and assets; dismissing and appointing members of the Board of Directors and the Supervisory Board; and other matters within the competence of the general meeting of shareholders.